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China's outward FDI grows 47.4 pct in January-May

(People's Daily Online)    10:07, June 23, 2015
(File photo)

The Chinese mainland made more than 278.4 billion yuan of non-financial investments in overseas markets in the first five months of 2015, up 47.4 percent year on year, Shen Danyang, spokesman of China's Ministry of Commerce, announced on June 18, 2015.

In the first five months of 2015, China's investment in the EU, ASEAN, Hong Kong and the US saw a substantial increase; investment in Japan and Russia kept to the same level as last year; and investment in Australia fell 42 percent.

Zhang Yi, director of the State-owned Assets Supervision and Administration Commission, said that as the central government-owned enterprises go global, their overseas economic strength keeps growing. By the end of 2014, a total of 107 central government-owned enterprises had established 8,515 overseas-based branches in over 150 countries and regions. The total overseas assets of the central government-owned enterprises increased from 2.7 trillion yuan in 2011 to 4.9 trillion yuan in 2014, with annual growth of 16.4 percent, and overseas operational revenues increased from 2.9 trillion yuan in 2011 to 4.6 trillion yuan in 2014, with annual growth of 12.2 percent.

Currently, outward FDI in overseas markets from central government-owned enterprises accounts for 70 percent of China's non-financial outward direct investment, and business turnover of overseas contracted projects undertaken by central government-owned enterprises accounts for 60 percent of the total business turnover of China's overseas contracted projects. Central government-owned enterprises have become the main force in going global. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Kong Defang,Zhang Qian)

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